The Spectranetics Corp. (NASDAQ:SPNC) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $25.58 and last traded at $25.48, with a volume of 1,018,234 shares trading hands. The stock had previously closed at $23.68.

A number of brokerages recently issued reports on SPNC. Needham & Company LLC downgraded The Spectranetics Corp. from a “strong-buy” rating to a “buy” rating and set a $27.00 price objective for the company. in a research note on Tuesday. TheStreet raised The Spectranetics Corp. from a “sell” rating to a “hold” rating in a report on Monday, August 1st. RBC Capital Markets reissued a “sector perform” rating and issued a $24.00 price target (up from $17.00) on shares of The Spectranetics Corp. in a report on Monday, August 1st. Royal Bank Of Canada boosted their price target on The Spectranetics Corp. from $17.00 to $24.00 and gave the stock a “sector perform” rating in a report on Monday, August 1st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $30.00 price target on shares of The Spectranetics Corp. in a report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. The Spectranetics Corp. has an average rating of “Buy” and an average target price of $23.25.

The company’s market cap is $1.07 billion. The firm’s 50 day moving average is $21.31 and its 200-day moving average is $17.19.

The Spectranetics Corp. (NASDAQ:SPNC) last posted its earnings results on Thursday, July 28th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.02. During the same period last year, the business earned ($0.22) earnings per share. The company had revenue of $67.70 million for the quarter, compared to analyst estimates of $65.18 million. The firm’s revenue was up 9.5% on a year-over-year basis. Equities research analysts forecast that The Spectranetics Corp. will post ($1.11) earnings per share for the current fiscal year.

In related news, Director Joseph M. Ruggio sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $25.00, for a total transaction of $125,000.00. Following the sale, the director now directly owns 83,186 shares of the company’s stock, valued at $2,079,650. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

An institutional investor recently raised its position in The Spectranetics Corp. stock. Morgan Stanley increased its stake in The Spectranetics Corp. (NASDAQ:SPNC) by 343.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,094 shares of the company’s stock after buying an additional 57,376 shares during the period. Morgan Stanley owned 0.17% of The Spectranetics Corp. worth $1,116,000 at the end of the most recent reporting period.

The Spectranetics Corporation develops, manufactures, markets and distributes single-use medical devices used in minimally invasive procedures within the cardiovascular system. The Company’s products are used to cross, prepare and treat arterial blockages in the heart and legs and to manage pacemaker and defibrillator cardiac leads.

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